Epic Games secures $1.25 billion from multiple investors
Epic Games, the engine maker and game developer-publisher behind Fortnite, has secured $1.25 billion in funding from investors KKR, ICONIQ Capital, Smash Ventures, aXiomatic, Vulcan Capital, Kleiner Perkins, and Lightspeed Venture Partners.
It's a deal that will see each of those investors join Tencent, Disney, and Endeavor as minority shareholders in Epic, which continues to be led by CEO and co-founder Tim Sweeney.
The company didn't specify exactly how the cash will be spent. Instead, Epic (rather vaguely) suggested it'll be looking to "reinforce its position of leadership in real-time 3D technology," while also accelerating its ability to "improve the way people play, work, and interact with the world."
The news comes shortly after Epic announced the opening of a new office in Australia and New Zealand, though again, the company is keeping its plans for the new branch under wraps for now.